Ria Money Transfer adds Tens of Thousands of Locations to Indian Network to Serve World’s Largest Diaspora Group
- Ria launches partnerships with three of India’s leading cash remittance payout agents
- Customers in India gain access to tens of thousands of new locations to receive remittances from friends and family in Canada
- Partnerships provide Ria’s customers with a high-quality cash payout network in the top remittance receiving country in the world
Toronto, June 27, 2017: Ria Money Transfer (“Ria”) the third largest money transfer company in the world and subsidiary of Euronet Worldwide, Inc. (NASDAQ: EEFT) has signed direct partnership agreements with three of India’s leading cash remittance payout agents, Paul Merchants Limited, Weizmann Forex Limited and Transcorp International Limited.
Ria’s new principal agents are well-recognized in India and each have more than 15 years’ experience in the money transfer sector. With the addition of these agents, Ria will upgrade its cash payout network during the next 12 months by adding tens of thousands of high-quality retail and non-banking financial company (NBFC) locations across India. The robust and ubiquitous payout network will provide Ria with increased brand recognition, while providing tremendous convenience and accessibility for beneficiaries to easily receive cash remittances.
Juan Bianchi, CEO & President of Ria Money Transfer, said: “India is the top receiving country for family remittances, receiving $62.7 billion in 2016. Millions of households are largely dependent on these transfers for family maintenance, savings and investment and we are proud to be the link that connects our customers in Canada to their loved ones in rural and urban centers across the country.”
Speaking at a press event in Toronto, Rosario Escarpita, Managing Director for the Americas of Ria Money Transfer, added: “We are pleased to say that Ria has one of the best services in Canada to send money to India. With the addition of our new agents, Ria has also raised the quality of its existing Indian payout network to provide customers with a ubiquitous spread of locations to receive remittances from their loved ones. We warmly welcome our new partners to the Ria family.”
Ria already has a strong network worldwide, including in top remittance sending countries where many Indians reside. In Canada, customers can make transfers to India at thousands of Ria agent or store locations across the country, and can search for their nearest location by visiting www.riamoneytransfer.com. In addition to cash pick-up, Ria also offers bank deposit services which allow customers to transfer money to any bank account in India.
About Ria Money Transfer
Ria, a subsidiary of Euronet Worldwide, Inc. (NASDAQ: EEFT), is a global leader in money remittances. Ria offers fast, secure, affordable money transfers through a network of approximately 321,000 global agents spanning 146 countries and online at www.riamoneytransfer.com. The company is steadfast in its commitment to its customers and remains ingrained within the communities in which they live. For more information visit www.riafinancial.com and www.riamoneytransfer.com.
About Weizmann Forex Limited
Weizmann Forex Limited – part of the INR 45 billion Weizmann Group, is a public limited company listed with Bombay Stock Exchange and National Stock Exchange since 2011. Weizmann Group has a diversified portfolio focused on Foreign Exchange, International & Domestic Money Transfer, Import and Export Payment Solutions, Tours & Travels, Textile Processing & Exports and Renewable Energy Generation. With its 30 years of Business expertise. A RBI certified Authorised Dealer – Category II, Weizmann Forex which has a strong network of 200+ branches, 54,000+ customer touch points across India and strong agent partnerships for its inward remittances business, has grown exponentially to become a leading player in the Foreign Exchange and Remittance market.
About Paul Merchants Limited
Paul Merchants Limited (PML), an ISO 9001:2008 certified Company for its quality procedures & processes, is the flagship company of the “PAUL GROUP OF COMPANIES.” The group is a diversified conglomerate having prominent interests in International Money Transfer, Foreign Exchange, Finance, Satellite TV, and Tours & Travels. Under the aegis of specific RBI Licenses, PML offers International Money Transfer and Forex Services from its widespread network consisting of own offices and Franchisee locations of more than 22,000 across India. PML is amongst leading players in Forex as RBI Licensed Authorized Dealer II. Further, PML is fast emerging name in Tours & Travels having IATA accreditation besides having affiliation with Indian Ministry of Tourism.
About Transcorp International Limited
Transcorp International Limited is a public limited company listed with the Bombay Stock Exchange; paying yearly dividends to its shareholders for the last 17 years. The Reserve Bank of India has entrusted Transcorp with several licenses including MTSS to provide inward money remittances to the families of Indian migrants working abroad. In addition, Transcorp holds the coveted AD2 license which allows it to conduct foreign exchange services as well as outward remittance as per applicable guidelines. Recently, it has received the PPI license and has launched its Transcash digital wallet and soon launching pre-paid cards. Transcorp prides itself on its loyal network of over 7000 retail partners across the country and over 50 own branches. Transcorp works as a banking correspondent at the national level with SBI – India’s largest and most trusted bank. In addition to financial services such as insurance and investments, Transcorp has subsidiaries including Ritco Travels, a holistic travel agency. It has a group company, Transcorp Enterprises Limited which is a RBI licensed money changer and has a venture in Malaysia for remittance and forex.